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February 23, 2004

NETHERLANDS: Ahold executive board member steps down

Dutch retail group Ahold has said Jan Andreae had decided to stand down from the company’s executive board.

Dutch retail group Ahold has said Jan Andreae had decided to stand down from the company’s executive board.

Ahold said Andreae had decided to withdraw from the executive board “on his own initiative”.

“Andreae will take charge of special projects for the benefit of the Ahold group, including the divestment of the Spanish operations,” Ahold said.

Ahold’s management has undergone many personnel changes since the company revealed massive accounting irregularities last year.

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